Novavax (NASDAQ:NVAX) Trading Up 5.1% - Time to Buy?

Key Points

• Novavax's stock price increased by 5.1% during mid-day trading, closing at $8.50, despite a significant decline in trading volume.
• Analysts have mixed ratings on Novavax, with a current average rating of "Hold" and a price target average of $14.29; however, four analysts rated it as a buy.
• The company reported a net margin of 39.20% and earnings per share of $0.62 for the last quarter, exceeding analysts' expectations significantly despite a year-over-year revenue decline of 42.4%.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) was up 5.1% during mid-day trading on Tuesday . The company traded as high as $8.52 and last traded at $8.50. Approximately 1,271,290 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,652,797 shares. The stock had previously closed at $8.08.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVAX shares. B. Riley reiterated a "buy" rating on shares of Novavax in a report on Monday, May 19th. Citigroup initiated coverage on shares of Novavax in a research report on Tuesday, June 17th. They set a "sell" rating and a $6.00 target price on the stock. Bank of America restated an "underperform" rating and set a $7.00 target price (down from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Finally, HC Wainwright assumed coverage on shares of Novavax in a research report on Thursday, August 28th. They issued a "buy" rating and a $10.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.29.

Novavax Price Performance

The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. The firm has a market capitalization of $1.41 billion, a P/E ratio of 3.78, a P/E/G ratio of 0.11 and a beta of 2.68. The stock's 50 day simple moving average is $7.69 and its 200 day simple moving average is $7.16.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The firm had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same period last year, the firm earned $0.99 earnings per share. The company's quarterly revenue was down 42.4% on a year-over-year basis. As a group, analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Novavax during the fourth quarter valued at approximately $27,000. State of Wyoming purchased a new stake in Novavax during the second quarter valued at approximately $52,000. Signaturefd LLC lifted its position in Novavax by 47.2% during the second quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 3,122 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Novavax during the second quarter valued at approximately $73,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Novavax during the first quarter valued at approximately $71,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.

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